Res 1986-117 - Laserfiche WebLink

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Page 2 of 4 pages HOW THEREFORE, pursuant to and for the purpose of carrying out the provisions of the Airport and Airway Improvement. Act of 1982, herein called the "Aot," and/or the Aviation Safety and Hoise Abatement Aot of 1979, and in consideration of (a) the Sponsor's adoption and ratification of the representations and assurances contained in said Project Applioation and its acceptance of this Offer as hereinafter provided, and (b) the benefits to accrue to the United States and the public from the accomplishment of the Project and compliance with the assurances and conditions as herein provided, THE FEDERAL AVIATION A~INISTRATION, FOR AND ON BEHALF OF THE UNITED STATES, HEREBY OFFERS AND AGREES to pay, as the United States share of the allowable costs incurred in accomplishing the Project, ninety percentum of all allowable project costs. This Offer is made on and subject to the following terms and conditions: Conditions 1. The maximum obligation of the United States payable under this offer shall be $ 900,000.00 . For the purposes of any future grant amendments which may increase the foregoing maximum obligation of the United States under the provisions of Section 512(b) of the Aot, the following amounts are being specified for this purpose: $ 0.00 $ 900,000.00 for land acquisition for airport development or noise program implementation (other than land acquisition). 2. The allowable costs of the project shall not include any costs determined by the FAA to be ineligible for consideration as to allowability under the Aot. Payment of the United States share of the allowable project costs will be made pursuant to and in accordance with the provisions of such regulations and procedures as the Seoretary shall prescribe. Unless otherwise stated in this grant agreement, any program income earned by the sponsor during the grant period shall be deducted from the total allowable project costs prior to making the final determination of the United States share. Final determination of the United States share will be based upon the final audit of the total amount of allowable project costs and settlement will be made for any upward or downward adjustments to the Federal share of costs. 3. 4. The sponsor shall carry out and complete the Project without undue delays and in accordance with the terms hereof, and such regulations and procedures as the Secret.ary shall prescribe, and agrees to comply with the assurances which were made part of the project application. FAA Form 5100-37 (10-84) Development or Noise Pro2ram